Over the weekend, the long positions continued to rise, and after the daily change, BTC still did not attempt a second high to test the 120000 mark, peaking around 119800 before facing pressure and falling back. Currently, the price is just consolidating around 118900. Meanwhile, Ethereum remains strong; as mentioned before, if ETH does not surpass the 4000 mark, one can only engage in short-term operations. Given the recent fluctuations of ETH, the market is only a step away from the 4000 mark. The strong bullish sentiment remains unchanged, so maintain a bullish outlook accordingly.

From the current market perspective, the previous daily line closed with a long lower shadow, washing out the bottom with high leverage, and now the market has rebounded back to the top of the previous consolidation zone but is once again facing resistance. Overall, the market remains within a consolidation range, and the upward movement has shown clear resistance patterns. The Bollinger Bands are presenting a three-line convergence structure, so we will continue to observe the high-level consolidation of the daily line in the short term. The four-hour chart has recovered to the upper band but has come under pressure and retraced. Currently, it has formed a three consecutive bearish candle pullback pattern, and the KDJ shows a dead cross with bearish volume expansion. In terms of the volume strength, it still doesn’t look sufficient. After the pullback ends, there will still be a secondary volume expansion to test the pressure of the upper band. As for Ethereum, there is a short-term need for a pullback correction, but the current bullish sentiment remains strong, and we will continue to maintain an upward outlook.

BTC can be bought at 117800-118300 long positions, looking towards 120000. ETH can be bought at 3830-3850 long positions, looking towards the 4000 level. #BTC#